Australia - Biashara Inventories

Australia's business inventories declined by 0.9 percent quarter-on-quarter in the three months to June 2019, after an upwardly revised 0.8 percent rise in the previous period and missing market consensus of a 0.2 percent gain. This was the steepest fall in business stocks since the fourth quarter of 2014, as inventories dropped at miners (-1.5 percent vs 2.1 percent in Q1); manufacturers (-0.3 percent vs 1.6 percent); retailers (-0.9 percent vs 2.2 percent); accommodation and food services providers (-2.3 percent vs -4.2 percent); and wholesale traders (-1.1 percent vs -0.5 percent). Conversely, inventories rebounded sharply at electricity, gas, water & waste services providers (6.0 percent vs -11.8 percent). Through the year to the first quarter, business inventories fell by 0.3 percent.

Australia's business inventories rose by 0.7 percent quarter-on-quarter in the three months to March 2019, after an upwardly revised flat reading in the previous period. The latest reading compares with market estimates of no growth. Stocks increased in mining (2.3 percent vs -2.2 percent in Q4); manufacturing (1.4 percent vs -0.4 percent); and retailing (1.9 percent vs 0.7 percent). Meanwhile, inventories fell at electricity, gas, water & waste services providers (-11.5 percent vs 0.6 percent); accommodation and food services providers (-3.2 percent vs 9.3 percent), and wholesale traders (-0.6 percent vs 0.1 percent). Through the year to the first quarter, business inventories rose by 1.4 percent.

Australia's business inventories unexpectedly dropped by 0.2 percent in the fourth quarter of 2018, following a revised 0.1 percent fall in the previous period and missing market consensus of a 0.4 percent rise. There were decreases in stocks at miners (-2.8 percent vs -1.2 percent in Q3); manufacturers (-0.8 percent vs 0.1 percent); and electricity, gas, water & waste services providers (-0.5 percent vs -1.9 percent). In contrast, inventories increased at wholesale traders (0.4 percent vs -0.8 percent); retailers (0.4 percent vs 1.8 percent); and accommodation and food services providers (6.9 percent vs -4.1 percent). Through the year to the fourth quarter, business inventories were up 1.0 percent.